What Do Credit Scores Mean and How Do They Benefit Consumers?
Credit scores speed up the mortgage approval process for most consumers. The truth is that most Americans represent very little risk and have high credit scores. Credit scores help lenders identify—quickly—which consumers are lower risk borrowers. This speeds up the mortgage approval process for most consumers.
Related Questions
- Your brochures say that MidAtlantic Farm Credit is a cooperative. What exactly does that mean, and what’s the benefit to me?
- Are credit scores provided to consumers calculated the same as credit scores provided to mortgage lenders?
- Which consumers will benefit most from lenders use of FICO Expansion scores?
